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20120926
20121004
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, released about an hour ago. gdp, gross domestic products, our big picture economy grew only at an annual rate of 1.3% in the second quarter. i said before, that's stall speed. i mean it. that's very, very low rate of growth. 4% the end of last year, 2 1/2% early this year, now, 1.3, that's a nasty down trend. all right, the markets opened, we did expect an up trend, up tick in the opening bell. we've got it. 25 points higher, ultimately maybe 50 points higher within the next couple of minutes. i want to call this the iphone effect. nokia may cancel its dividend in the face of big time competition from the iphone. okay, nicole, where did nokia shares open? let's start with them. >> they're a winner today. up 2.5%, all right? up 2 1/2%. cutting the dividend is certainly not good news, but they've priced their knew lumia, more than the samsung galaxy so they're pushing a new phone now and that's where the euphoria is surrounding nokia. stuart: i've got to say i don't get that. priced the new phone higher than the galaxy and now it goes up. and blackberry, research in motion, that stock has
output at a plant as the economy slows and demand weakens. meantime 40% of china's iron ore mines are standing idle as steel prices have crumbled. and loans to firms and households fell more than expected. ecb staying loans to the private sector fell 0.6% from the same month a year ago. italy's borrowing costs falling at a bond auction today. analysts say the auction shows nand for italian government paper remains healthy. and eu regulators are prepare to go charge microsoft for failing to comply with a 2009 ruling. that ruling had on ordered the company to offer user as choice of web browsers. apparently they may not have done that. if guilty, microsoft could face fines of up to 10% of its global revenues. and that would be a lot of money. >> iran still, we're this close to nuclear -- think our unfunded labels are like 60 trillion or something. europe back in the crapper, but the refs. huh? >> i told you, i don't always like unions. i'm actually happy that the refs union won. >> it does provide a release from some of the travails and the worries of every day life. spoorts is spor
are great. that's one of the reasons the economy hasn't been strong to this point in the cycle. housing is keeping us from really stuttering on growth. we need more in housing, all that free cash flow in the corporate sector to be put to more productive use, investing in capital and labor. there's a real need for it, carl, because the capital stock in the economy is basically depreciating. we're operating with old depleted capital. >> housing is a much smaller portion. the context of this is we need a much bigger engine for this economy this time around. >> we do. but partly most of the housing is so low because it came from a high level and then a collapse. if you look at the fed flow of funds data, you've had two record quarters of growth because of higher home prices. but we need more jobs. so housing is helping, the consumer is still holding in. we need more jobs. it's got to come from the business side. >> what gives you the confidence that europe has stabilized? of course, we look at this durable goods number, we know that's partially because of european weakness, but some would s
Search Results 0 to 2 of about 3